R&D CONSULTING SERVICES
Firms undertake research and development to create new products and services. R&D often starts with the desire to create a new product for a customer or meet an emerging market need. For most businesses R&D projects are usually funded from working capital, cash reserves or loans. Because the research outcomes are by no means certain, these funds are put at risk. R&D is often a one-off activity and may be outside your firm’s normal capabilities.
Over the last 20 years, Applied Support Services have assisted hundreds of innovative New Zealand companies scope, plan and budget their R&D projects. We have worked with firms in many sectors including agribusiness, biotechnology, chemicals, electronics, food, horticulture, Information Technology, manufacturing, packaging and transport.
Over the last 20 years, Applied Support Services have assisted hundreds of innovative New Zealand companies scope, plan and budget their R&D projects. We have worked with firms in many sectors including agribusiness, biotechnology, chemicals, electronics, food, horticulture, Information Technology, manufacturing, packaging and transport.
R&D Project Plans and Budgets
Applied Support Services can help you prepare project research development project plans and budgets, including:
Applied Support Services can help you prepare project research development project plans and budgets, including:
- Creating the project scope
- Documenting project requirements and specifications
- Obtaining quotations from external contractors and experts
- Identifying internal and external project resources required
- Creating the project budget
- Establishing milestones, go/kill points and deadlines
- Preparing and documenting the R&D plan
The Business Case for R&D
Whether you are developing a new product, service or process, it should support a specific business need. Your business case captures the reasoning for investing in an R&D project and argues how it will address that need. Because future sales from your new product or service are not certain, the business case helps you evaluate the relative value and risk of a project. We can assist you with:
- Building the business case for developing the new product or service
- Preparing the market analysis and revenue forecasts
- Estimating the direct costs of producing the new product or service
- Estimating other commercialisation costs including marketing, sales and administration
- Establishing the payback period for the R&D investment
Calculating R&D Expenditure
The IRD and funding agencies all provide guidelines on how research and development expenditure is defined. Mostly they refer to accounting definitions of R&D including FRS 13 and NZIAS 38. Some publish lists of activities and expenditures that are specifically excluded as R&D. Generally expenditure includes salaries and wages of employees wholly or partially engaged in R&D, overheads apportioned to R&D, materials and consumables used in R&D, depreciation and external expenditure on R&D experts, consultants and contractors. We can provide claimants with a framework and a template on how to calculate R&D expenditure and how to prepare, maintain and substantiate R&D records.
Managing, Monitoring and Controlling R&D Projects
Many R&D projects fail to complete or generate commercial returns because of simple factors like inadequate planning and project control. Many R&D projects go well over anticipated budgets, often for no other reason than loss of focus and direction. We can assist you manage, monitor and control your R&D projects by:
- Providing easy to use systems to monitor internal time and cost spent on R&D
- Monitoring and controlling external costs
- Tracking the progress of the project’s technical objectives
- Reporting on project milestones, go/kill points and deadlines
Valuing Intellectual Property from R&D
Tracking and recording the time and cost of your research and development projects can help you quantify the value of the intellectual property arising from the research. Applied Support Services have easy to use project time and cost recording systems that let you track and record R&D project costs. These systems were used successfully for claiming R&D tax credits and provide a basis for valuing the intellectual property arising from your research programme.
Statement of R&D Activity for Claiming R&D Tax Losses
Applied Support Services can assist claimants preparing the R&D project plans required for claiming the R&D Tax Losses from the IRD. To claim the tax loss credit a "Statement of R&D Activity and Expenditure" needs to be prepared and submitted. This includes the requirement to show the R&D activities in the reporting period meet the accounting definitions of R&D, namely FRS-13 and NZIAS 38. The purpose of the Statement is to establish eligibility by detailing the nature of R&D activity and the amount of qualifying expenditure. Applications for R&D Loss Tax Credits are available from the income year commencing 1 April 2015. To learn more about R&D Tax Losses visit our R&D Loss Tax Credit webpage.
Applied Support Services can assist claimants preparing the R&D project plans required for claiming the R&D Tax Losses from the IRD. To claim the tax loss credit a "Statement of R&D Activity and Expenditure" needs to be prepared and submitted. This includes the requirement to show the R&D activities in the reporting period meet the accounting definitions of R&D, namely FRS-13 and NZIAS 38. The purpose of the Statement is to establish eligibility by detailing the nature of R&D activity and the amount of qualifying expenditure. Applications for R&D Loss Tax Credits are available from the income year commencing 1 April 2015. To learn more about R&D Tax Losses visit our R&D Loss Tax Credit webpage.
How we can help your R&D Programme
For the last 25 years we have successfully planned research and development projects for organisations across a wide range of industry types and industry sectors. For six years Applied Support Services was a Crown Agent for the Foundation for Research Science and Technology. Our role was to review and manage contracts for R&D grants approved under the Private Sector Research and Development (GPSRD) scheme for Auckland and Districts.
To help you get started on your business plan project click on the link below, complete and send the form.
For the last 25 years we have successfully planned research and development projects for organisations across a wide range of industry types and industry sectors. For six years Applied Support Services was a Crown Agent for the Foundation for Research Science and Technology. Our role was to review and manage contracts for R&D grants approved under the Private Sector Research and Development (GPSRD) scheme for Auckland and Districts.
To help you get started on your business plan project click on the link below, complete and send the form.
This page was last updated on 2 June 2017